SCREEEEEEEEEEEEEEECH!!!

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Added:





Either way, WHOOSH!

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Original Post:

I have received several requests to uncage Cashzilla.

Problem: those requests happened while the market gained momentum during it's initial dive. Yes, this is a big down wave. Huge. Definitely worthy of listening to Cashzilla's disturbing, infuriated wail. But the scale of this decent is quite enormous. Even though it will appear to be a harrowing decline looking backward from the future, living it, it will feel a little more controlled, at least most of the time.

My point is that we were due for a big-picture-insignificant, but little-picture-significant, mini-Wave 2 rally. I didn't want to unleash Cashzilla into a rally, however minor, for fear that it might piss him off.

Tonight, it looks like our first mini-A is complete. Since this is part of a BIG Wave 3 down, large retracements will be less common. So it's entirely possible that this A, since it took a 3-segment form, will suffice as the full ABC retracement and we'll resume the down draft in earnest.

Big picture, it's scary to let up the shorting; any day could be huge day to the downside. Huge moves almost always take shape in the after market, to prevent public participation. Upside moves could be equally violent, maybe more so, but short lived when viewed in perspective.

This is where everyone but those with a good understanding of market action, both long and short, will get creamed. Expect to feel your own, instinctive, deeply emotional reactions to do the wrong thing, as Mother Nature tries to wipe out everyone except her most loyal natural-selectees.

The most likely move is not the most dangerous for shorts, so personally, I'm not letting up. That is: soon, we will see a 3-segment B wave down (since this is a small part of a big macro move down, chances are good it will exceed the previous Wave 5 bottom), then a very sharp 5-segment C wave up, that finishes a bit higher than the A top (probably today's high). Then we'll resume the most devastating, though not necessarily the most spectacular, down trend of our lives.

So, on this sharp B wave "head fake" down, or a big time Wave 3 down, I'll let him out to play with the buildings.